VALUE-ADD OPPORTUNITY, UNDER $80,000 PER UNIT, 23-unit multifamily community in Fort Lupton, five miles north of Brighton and 30 minutes north of downtown Denver. Located on the northern end of downtown Fort Lupton, the property consists of 12 apartment units and 11 mobile homes. The Property sits on a large 1.81-acre parcel that encompasses an entire city block. The main portion of the property was constructed in 1930, with later additions. The 12 apartment units have a great unit mix of studios and one- and two-bedroom units. A three-bedroom house with a two-car garage and private backyard is also located on-site. All units are single story, have front and rear entrances, and offer full kitchens and bathrooms. The apartments are master metered for gas, electricity, water, and sewer, which is currently paid by the owner. Ideally, a utility bill-back system should be implemented. The 11 mobile homes have a mix of one- and two-bedroom units. All residents are responsible for paying their own gas and electric usage, and all homes are connected to city water and sewer. This is a strong value-add opportunity for a buyer seeking to increase rents by rehabbing the apartments and mobile homes. Fort Lupton is a growing town with minimal multifamily vacancy.
Courtesy Of Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Schools: Elementary School, High School, Middle School
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